12-08-2020, 01:27 PM
How this 30-year-old became Australia’s youngest self-made billionaire during the pandemic
![[Image: 106806883-1607231488681-IMG_0695_togethe...=740&h=416]](https://image.cnbcfm.com/api/v1/image/106806883-1607231488681-IMG_0695_together.jpg?v=1607231641&w=740&h=416)
Nick Molnar is something of an Australian icon.
The 30-year-old is credited with reinventing the spending habits of millions of millennials, earning him a spot on his country’s young rich list.
And now, as the pandemic supercharges his payments business, its soaring share price has shot him to billionaire status.
“You can’t really digest what’s happening because a lot has happened very fast,” Molnar told CNBC Make It.
Inspired by crisis.
Molnar is the co-founder and co-CEO of Afterpay, a “buy now, pay later” payments platform that allows users to stagger the cost of their purchases over regular, interest-free instalments.
This year, the six-year-old tech start-up became one of Australia’s hottest stocks, surging 1,300% and doubling active users to 11.2 million as the coronavirus pandemic spurred new spending habits.
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